EAC Compliance & Operational Risk Specialist

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description Summary

This job is responsible for supporting the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management Program. Key responsibilities include assisting with identifying, escalating, and mitigating risks in a timely manner, supporting engagement with Front Line Unit and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, identifying themes and trends, conducting analysis for new and emerging risks.

Job Description

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

This job is responsible for supporting the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management Program. Key responsibilities include assisting with identifying, escalating, and mitigating risks in a timely manner, supporting engagement with Front Line Unit and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, identifying themes and trends, conducting analysis for new and emerging risks.

Responsibilities:

• Assists in assessing risks, associated controls and their effectiveness, driving compliance with applicable laws, rules and regulations and adhering to policies, and developing reporting and documentation
• Engages in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/CF) performance and any related third party/vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively the Policies) and the Compliance and Operational Risk Management Program and Standard Operating Procedures
• Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses, and may assist with opening new issues in the centralized issues tool
• Maintains an inventory of processes, risks, and controls and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
• Assists in responding to regulatory inquiries and other audits and examinations including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintain a comprehensive regulatory inventory, while supporting communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Reviews and challenges FLU/CF process, risk, Single Process Inventory and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage

Required Qualifications:

• Must be a current Year Up intern at Bank of America
• Strong technical and data analytical skills (i.e., Excel and similar applications) with experience in analyzing, managing and reporting from large sets of structured data (e.g., books and records data)
• Ability to produce accurate work output and reports under tight deadlines
• Communicates effectively in both oral and written formats and tailors message appropriately to audience
• Demonstrates intellectual curiosity and drives operational excellence
• Ability to think critically to quickly analyze and resolve issues
• Influences and delivers results through collaborative relationship with key partners and stakeholders
• Works independently to prioritize work and deliver against regulatory deadlines in a dynamic environment
• Ability to demonstrate a high level of integrity with a mature approach to work
• Discrete when handling confidential information

Desired Qualifications:

• Experience interacting with regulatory agencies and/or regulatory exams
• Experience in technology implementation projects including involvement in building new or enhancing existing systems to meet complex reporting requirements​​

Skills:

• Analytical Thinking
• Regulatory Compliance
• Reporting
• Risk Management
• Written Communications
• Active Listening
• Adaptability
• Issue Management
• Monitoring, Surveillance, and Testing
• Policies, Procedures, and Guidelines Management
• Advisory
• Business Process Analysis
• Interpret Relevant Laws, Rules, and Regulations
• Process Management

Shift:

1st shift (United States of America)

Hours Per Week:

40